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  • Nouveau Monde issued a total of 1,978,750 common shares to Investissement Québec for proceeds of approximately C$18.3 million
  • Net proceeds will be allocated to the development of the Matawinie mine project and LiB anode plant project
  • Nouveau Monde is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets
  • Nouveau Monde Graphite Inc. (NOU) is down 1.67 per cent, trading at C$8.85 per share at 11:15 am ET

Nouveau Monde (NOU) has closed its non-brokered private placement.

The private placement was launched concurrently with the public offering of US$59.4 million units which closed on June 23, 2021.

Nouveau Monde issued to Investissement Québec, acting as mandatary for the government of Québec, a total of 1,978,750 common shares at a price of C$9.25 per share for proceeds of approximately C$18.3 million.

The common shares will be subject to a statutory hold period of four months and one day.

Net proceeds will be allocated to the development of the Matawinie mine project and LiB anode plant project and for general working capital and corporate expense needs.

The private placement is conditional to the final approval of the TSX Venture Exchange.

Targeting commercial operations by 2023, Nouveau Monde is developing advanced carbon-neutral graphite-based material solutions for the growing lithium-ion and fuel cell markets.

Nouveau Monde Graphite Inc. (NOU) is down 1.67 per cent, trading at C$8.85 per share at 11:15 am ET.

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